Creditors Petition

 

Creditors Petition

If a creditor(s) is owed more than £750 and they are not receiving payments form you, they may petition for your Bankruptcy.
Your creditors can also join debts together to meet the £750 criteria in order to apply to make you bankrupt.

Bankruptcy Proceedings usually occur at your local county court that has Bankruptcy jurisdiction.

Under what circumstances can a creditor make you bankrupt?

Creditors can make you bankrupt if:

  • Your debt is unsecured
  • it is for a fixed sum which you (the debtor) seem 'unable to pay'

For more information on Creditors Petitions you can contact us at Debt Solutions or alternatively contact your local court.

 

Bankruptcy Questions...

How to Avoid Bankruptcy

Click here to learn How to avoid going Bankrupt using our bankrutpcy alternatives.